This article is from the Australian Property Journal archive
DUAL New Zealand and Australia-listed retirement homes operator Summerset Group Holdings has seen a year-on-year uplift in sales for the September quarter, benefiting from a range of different locations.
More than 55% of its New Zealand sales came from outside Auckland, Wellington and Christchurch during the quarter.
Summer has 15 villages selling new homes across the country. It reported 129 new sales and 160 resales in the quarter, with the figures showing an increase of 11% and 26% year-on-year respectively.
“The economy was still extremely difficult in Q3, with a slow property market, weak consumer confidence and inflation continuing to have an impact. Despite this we’ve continued to manage through,” said Summerset CEO Scott Scoullar.
“Our sales show that we still have highly motivated prospective residents, and we’ve worked hard to bring them into our villages. We’re seeing positive signs too with an interest rate cut (and further cuts anticipated) bringing more optimism to the market”.
In August it voiced concern about government underfunding in the aged care sector on the other side of the Tasman.
Last month it appointed GM finance Sarah Theodore as acting chief financial officer.
